Global fintech and funding innovation ecosystem

PayPal Ventures Co-Leads $30 Million in AI Pioneer Rasa

Funding | Feb 16, 2024

Rasa - PayPal Ventures Co-Leads $30 Million in AI Pioneer Rasa

Image: PayPal Ventures press release

PayPal Ventures Invests in Rasa's Growth, Series C Funding

Announced Feb 14, 2024, PayPal Ventures, alongside StepStone Group, leads a $30 million Series C funding round for Rasa, marking a significant endorsement of Rasa's conversational AI technology.  Other investors include Andreessen Horowitz (a16z), Accel, and Basis Set Ventures.

Rasa's platform, known for its generative conversational AI, combines the flexibility of Large Language Models (LLMs) with traditional chatbot reliability, offering nuanced and coherent user interactions.  The funding will fuel Rasa's technological advancement and market presence expansion, with a focus on hiring across North America and Europe.

With over 50 million downloads, Rasa's AI solutions are trusted by the world's top banks, insurers, and hospitality brands, showcasing its capability to transform customer service.

See:  Amazon Launches ‘Q’ AI Chatbot for Businesses

This strategic investment by PayPal Ventures into Rasa not only underscores the potential of conversational AI in enhancing customer engagement but also marks PayPal's venture into AI with the launch of its new AI Fund. Rasa's innovative approach to AI-driven conversations aims to redefine how businesses interact with their customers, making every interaction impactful and personalized. The investment will enable Rasa to continue its mission of empowering businesses with AI, ensuring user interactions remain coherent and natural while reducing development time and costs.

Dr. Alan Nichol, Rasa Co-Founder and CTO:

“At Rasa we’ve reinvented how conversational AI works. While many in the industry claim to incorporate generative AI, often it’s merely an addition of LLMs onto their existing platforms.”

Rasa's impact is evident across various sectors, powering AI assistants for two of the world's top three banks, major insurers, and leading companies in the travel and hospitality industry. The platform's success is attributed to its ability to automate or eliminate costly aspects of customer service, offering a low-code platform that ensures robust functionality, data privacy, and scalability.

See:  Morgan Stanley is Launching a Wealth Management AI Chatbot

Hunter Somerville, Partner at StepStone Group:

"We believe Rasa delivers unparalleled value to its clients by automating or eliminating the most expensive and time-consuming aspects of delivering excellent customer service.  Rasa has proven time and again that security-conscious enterprise customers can safely deploy the latest conversational AI, with an elegant low-code platform that offers robust functionality, data privacy, and scale.”

NCFA Jan 2018 resize - PayPal Ventures Co-Leads $30 Million in AI Pioneer RasaThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit:

Latest news - PayPal Ventures Co-Leads $30 Million in AI Pioneer RasaFF Logo 400 v3 - PayPal Ventures Co-Leads $30 Million in AI Pioneer Rasacommunity social impact - PayPal Ventures Co-Leads $30 Million in AI Pioneer Rasa

Support NCFA by Following us on Twitter!

NCFA Sign up for our newsletter - PayPal Ventures Co-Leads $30 Million in AI Pioneer Rasa


Leave a Reply

Your email address will not be published. Required fields are marked *

ten − 8 =